ED of Invest SVG elected VP of CAIPA

As the newly appointed vice-president of the Caribbean Association of Investment Promotion Agencies (CAIPA), Invest SVG’s executive director, Bernadette Ambrose-Black, is hoping to build on the work CAIPA has done to make the region more viable for investors.

Ambrose-Black made the case for St Vincent and the Grenadines (SVG) to hold the VP position in CAIPA and was successful last Monday, June 7. She was elected to the VP spot during the CAIPA Annual General Meeting (AGM) in Santa Barbara, Curacao.{{more}}

Addressing the gathering during a presentation dubbed, ‘SVG: Expanding our reach, strengthening our impact”. Ambrose-Black, who won the VP position by a landslide victory (11-2) and who was opposed by the Dominican Republic and Jamaica, noted that global economic growth continues to be slow, while Foreign Direct Investment (FDI) has fallen by up to 16 per cent globally and 14 per cent within Latin America and the Caribbean (LAC).

“These facts and figures are all cause for concern and reassessment, but perhaps for us they hold a ray of hope and a reflection of the fruits of our individual and collective work,” said Ambrose-Black, adding that the work done by CAIPA to make our region more viable must be commended, but also built upon.

“I, we, SVG is here to help you do that. The need to expand our reach and in so doing strengthen our impact is as urgent as it has ever been and perhaps even more so in the light of our ever growing interconnectedness,” Ambrose-Black told the gathering.

She stressed that in SVG, the drive towards development has been predicated on strong policies and competent frameworks and the cultivation of a stronger understanding of our strengths and having vision for the development of our economy and people.

“It’s this same drive that we have adopted towards FDI and regionalism over the years and it is this same drive that we would continue to uphold while serving in the Board of CAIPA.

“ISVG is strategically placed, well positioned, nationally, regionally and internationally. We are legally registered under the Office of the Prime Minister Dr Ralph E Gonsalves and in January 2016, after a four in a row defeat of the opposition, have been placed under the ambit of the minister with responsibility for economic planning, sustainable development, labour, industry, ICT and investments, Honourable Camillo Gonsalves”, Ambrose-Black stated, while making her bid for the VP spot.

Ambrose-Black, who noted that regionally, and internationally, Prime Minister Gonsalves needs no introduction, said that he has played a very prominent and dominant role in a number of initiatives geared towards regionalism and regional integration.

She told the gathering, “Our line Minister is a former permanent representative to UN, former minister of foreign affairs, foreign trade, commerce, ICT. Led by both their astute, visionary and charismatic leadership, ISVG continues to make strides towards national development and the ennoblement of our people, our nation and the Caribbean civilization”.

She stressed that as CAIPA and as individual Investment Promotion Agencies (IPAs), in order to expand reach, it is essential to remain aware of those whom their work is meant to help, to continue to be innovative and driven, to increase our impact on the global stage and as a collective, promote policies and efforts that will provide value to all involved.

Ambrose-Black, who has experience both at the regional and international levels, having worked at the Association of Caribbean States and at the headquarters of the Inter-American Development Bank (IADB), told the CAIPA AGM that Invest SVG is in a perfect position to hold the VP spot, as support will also come from deputy executive director Allan Alexander, who has 26 years in the civil service and academic qualifications in economics and management, inclusive of natural resource management.

“We are a formidable team that would continue to propel CAIPA, as it strives to achieve its mandate,” said Ambrose-Black.